Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1887-11-11
TAG MAGIC City Of the South.
sUBsIDENCE OF THE SPECULATIVE
FEVER IN BIRMINGHAM, ALA.

Z
BIRMINGHAM, ALA, Oct. d.
The boom here is over, very little
property in the city is changing
hands, and owners of lots who pur-
chased while the excitement lasted
are turning their attention to build.
ing. There is a great demand for
store property, and IN consequence
of the scaracity of stores rents are
very high. Stores % by 100 feet,
common rough brick fronts, on
either FIRST or Second avenue, and
on streets crossing these avenues
and near them, rent for from 800
to 5000 per month for the first floor;
the second floor, from $50 to $50
per month. Nearly all the stores
are but two stories. Some very fine
blocks are now being built, these
new buildings being mostly three
and four stories in height, and
numbers with iron fronts and large
piate.glass windows. The city is
filed with real estate agents, but
there is very little for them to do.
Occasionally they make a turn IN
suburban property to parties deslr-
ing TO build residence. Between
twenty and thirty pretty towns
have sprung up within seven miles
of Birmingham, on the mountain
sides and in the valleys. Lots In
these villages, 80 by $50, sell at
prices ranging from $500 TO $4,000,
according to the location and the
advantages they possess. Seven
different dummy lines run contlnu-
ously to and from Birmingham
through these places at short inter
walls from 6 o'clock, a. m, until MD
night. The lines are well patron
lied and they invariable run filled
with passengers. There are also
six horse car lines, some of which
run seven miles beyond the city
limits. Some very handsome and
costly cottages have been built
indeed they would be a credit to
the suburbs Of Baltimore. The fare
by either dummy or horse cars Is
only five cents, or 100 tickets for 81.
/ birmingham is not q desirable place
for residence. The smoke and heat
from the furnaces "a number OF
which are located only a short dis
tance from the city, make it very
unpleasant in summer. A small
running stream supplies the town
with the worst water for drinking
| ever saw. In consequence OF this
the soda.water stands and those
dealing in mineral waters do a
thriving business. The water is
sure to make persons sick not ac'
customed to it. The population OF
Birmingham, by the census taken
in 1880, was 4, 800: in 1881, 900
1885, 21,347, and at this time is said
to be about 10000. The city, coun
tv and State tax is $l.4l! on the
800. The value of taxable prop
erty in Birmingham for the present
wear is said to be s32, ,Ol9,4S5, while
the value of taxable property In
Jefferson county in 1880, as shown
by the tax.receiver's returns, was
only S3,2lO,374. Birmingham Is il
Jefferson county. Town lots are
still held at fctitlOusly high prices
but are steadily dropping back
The highest price said to have beer
obtained for any lot sold in Blr
mingham was 81 900 per front foot
Three years ago this same lot couiC
have been had at S20per front foot
Persons here having property t
sell on the best business thorough
fares are all asking 81 800 per from
foot. the most of which can b'
bought for 500 or $500. a 10
was sold yesterday on Second ave
nue, be- 'ween Twenty.second an'
Twenty-third streets, for SlOO pc
front foot. Three months ag'
the same property could not hay'
been bought for 5000. Landowners
are beginning to realize that the!
overdid the thing in aiming tn,
price of their property TIP to suct
high figures. The big boom com
menced here last fall an d continued
until the following Fe oruary, ant
during that time nearly every trail
running into Birmingham was load
ed with passengers seeking lan'
speculation. Every day the street
were filled with excited spt aulators
many of whom bought and sold tw'
or three lots in a day, maxi 1g hand
some profits on each, aud at nigh
several hundred were compelled t
sit up all night, being unable TO &c
accommodation in airy of the bo
tells or boarding hOu ses. Chairs II
hotel Offices and bar ber shops read
lily sold for 80 cen IS each for th
night. This sort of thing was al
every night occur renee. Now vlsI
tors to the magic city have no diff
Guilty in securing accommodation
Business of all kinds is rhrivin
with the store-kO Oepers. Bal'-room
and drug stores are the mont nu
merous, and the y all seem to he dc
ing P rushing business. Dec atul
Ala, 81 miles north of Birm I'M
ham, is now having the benefit
the boom fever, and land specl ili
tors are moving in that directi, d
ayes, my hands are SOFT" said